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The 5 Best QuickBooks Apps for eCommerce

QuickBooks® is undoubtedly the most popular accounting software targeting small and medium sized businesses. The software contains a lot of useful features that ease the task of managing money and understanding your profitability. What’s great about the accounting software is that it supports the integration of hundreds of third-party apps, greatly expanding its functionality and boosting employee productivity. Below you’ll find the 5 best QuickBooks apps for eCommerce. Each app has been highly rated by users.

The QuickBooks apps can help businesses save time and expense while managing business resources, and all of the apps recommended here are available through the Intuit App Center. They are reasonably priced, making them affordable for small business owners. Some of the apps integrate with QuickBooks desktop while others work with the online version of the accounting software.

Here we will take a look at 5 great QuickBooks apps that are especially suited for small business owners.

1. Unify
Unify is one of the best QuickBooks apps for eCommerce firms. The app allows you to track everything relating to your online website including expenses, revenues, fees, customers, and products inventory. It integrates with about 70 e-commerce platforms and automatically syncs all accounting related data to QuickBooks.

2. Amazon Sync – Unify

Amazon Sync allows online business owners to save on the cost and time involved with transferring Amazon account data to QuickBooks. The app features tons of functionality to sync sales information across multiple channels, view financial reports, and email customer lists to email marketing platforms for carrying out promotional efforts. It works with QuickBooks Online and desktop, Amazon, eBay, Bigcommerce, Etsy and various other eCommerce platforms.

3. Magento QuickBooks App

Magento online app developed by JMA Web Technologies allows you to sync inventory, customers, products, and orders with QuickBooks Online. For integration with the desktop version, you can use another software made by the company known as Connex for QuickBooks. Using this third party app, you can automatically sync accounting related data with QuickBooks.

4. eBay Sync

eBay Sync integrates with QuickBooks Online and desktop editions. It saves the time involved in transferring data from eBay to QuickBooks. The third party QuickBooks app allows you to stay organized. You will always remain up-to-date on the financial position of the company. You’ll gain insights about the trends and margins of your sales.  Plus, you can view financial reports that show you order volume, revenues, expenses, inventory and much more.

5. ShipRush

The fifth best accounting software for eCommerce firms is ShipRush. It allows you to compare rates, obtain discounted postage, and print shipping labels. You can import shipping orders from QuickBooks Online and print labels for FedEx, UPS, and US Postal Service. Another popular option is ShipStation. Review and compare to determine which app suits your needs best.

Apart from the above, you can find a number of online apps that help you run your eCommerce store. Third party QuickBooks apps can save you the time, cost, and effort involved in performing accounting related tasks. If you want to add to the list of best QuickBooks apps for online firms, feel free to share a comment.

To read an in-depth article on QuickBooks Online versions, click here.

alt="QuickBooks Online Job Costing"

Job Costing Using Class Tracking in QBO

Intuit’s cloud accounting application, QuickBooks Online, is the preferred software choice of small business owners. And, this is not surprising. Intuit continuously improves QuickBooks Online to meet the ongoing demands of businesses. It makes performing accounting tasks a breeze.

QuickBooks Online also contains numerous features like a mobile app to manage your business on the go and class tracking. We will a talk more about the class tracking feature in QuickBooks Online.

So, What is Class Tracking Anyway?

Class tracking is a useful feature that is available in QuickBooks Online Plus only. With this feature, you will be able to track income and expenses transactions to specific projects, jobs or departments.

Although, technically speaking QuickBooks Online doesn’t feature job costing, you can make it work using class tracking. Using this feature, you will be able to track customer jobs. There is another method to track customer jobs known as the sub-customer method, but we will cover that topic in another article.

For now, you should know how to enable class tracking in QuickBooks Online.

Setting Up Class Tracking in QuickBooks Online

You can setup class tracking in QuickBooks by following these simple steps.

Step 1: Click on the gear icon on the upper right corner of the screen.

Step 2: Now, select Account and Settings listed in the sub-menu under Advanced.

You will be presented with the picture as shown below.

alt="Class Tracking On"

Step 3: Scroll down until you see the Categories section, and click on Track Classes.

And that’s it. You have just setup class tracking in QuickBooks Online.

Jobs in QuickBooks begin with an Estimate. You will be able to add Class directly within the Estimate, Invoice, Expense, Check, etc.

To add a new class, you must select Add New from the sub-menu in the Class column.

qbo-class-tracking-lists

Apart from the above method mentioned above, you can also add Classes from the Class Lists as depicted in the figure below. You can access Lists from the Gear icon in the top right navigation.

alt="how to find lists"

Just click on All Lists. A new window will open up like the one below.

alt="Where to find class lists"

Next, you must select Classes from the Lists screen. To add a New Class, you must click on the New button. Next, you must add the required Class, and then save it.

You can track each of the jobs by creating reports in QuickBooks Online. You can create budget vs actual report,s as well as profit and loss by class report for the job.

After the job has been completed, you can remove the Class from the list. Note that a Class will not actually be deleted, but it will be made inactive when you delete it from the list. You will still be able to see classes along with the related expenses by generating a report.

For a more in-depth look at the process, click here to see a video on Class Tracking.

alt="Corelytics Basics"

Corelytics QuickBooks Integration Basics

Corelytics® can help you understand vital signs of your business. It connects with QuickBooks® and other accounting software to give you important insights about your business. The application generates trends, forecasts, goals, and benchmarks that can help owners visualize and share vital accounting stats relating to the business.

Three words that best describe Corelytics and what it does are: Monitor, Diagnose, and Adapt.

By using this QuickBooks add-on app, your accounting staff will spend less time preparing reports and more time diagnosing the financial health of the business. The software app allows you to gauge the overall financial health of the business and gain valuable business insights.

Let’s see what some of the value added features of Corelytics are and the benefits they offer to you as a small business owner.

About Corelytics: How it Offers Value to Business Owners?

alt="Corelytics Finacial Dashboard"

Corelytics is a financial dashboard that can give deep insight into your business. The software app uses predictive analytics that ties to industry benchmarks. It connects with QuickBooks to provide owners with a visual overview of their business.

The application can give you an intelligent and quick analysis of the business health without making any data entry. By just a few clicks of the mouse button, you receive detailed and intelligent insights about the financial performance of your business.

Corelytics helps you monitor financial opportunities and challenges. It keeps you on track about the business health and lets you make key strategic decisions to chart the future direction of your business. Using this software, you can understand vital signs of the business and make important financial decisions.

Probably the best thing about Corelytics is that it aggregates industry data and presents the information in the form of a simple to understand graphs. In this way, you can compare your company’s financial performance with that of the industry.

Growth Trends

Corelytics financial dashboard provides you with information that helps you gauge both short and long term trends. Using this information, you get a clearer picture of your business and understand where it’s headed. This information proves invaluable when making important financial decisions and helps make a meaningful impact on bottom-line of the company.

LOB Gross Margin

Another great feature of Corelytics Dashboard is that it helps you find out about the line of business (LOB) that is putting a drag on the company and which is generating profits. This allows you to see the problem areas that need to be tweaked or fixed. It also shows areas that need do not require change, so you avoid wasting resources on things that aren’t broken.

Contributions of the Staff

A useful feature of Corelytics is that it gives indication of revenue generated by full time equivalent employee (FTE). If the revenue per employee is decreasing, it will give an indication of employee productivity at the company. As a result, you can take appropriate actions to rectify the problem, and boost overall company profitability.

In conclusion, Corelytics allows business owners to find answers relating to the financial health of a company. By integrating QuickBooks with the application, you can gain deep insight into the financial health of your business. And, you improve the odds of success by making the informed decisions.

 

alt="How to Create Budgets in QBO"

How to Budget Using QuickBooks

Budgets are important for any business irrespective of its size. The activity helps keep finances on track by prioritizing expenses. This is especially important for small business owners who run a business on a limited budget. They need to conserve money to meet essential company expenses, and stay in the business.

Whether you are trying to pay back a loan or just trying to cover your company’s expenses, it’s in your best interest to make a budget. Without this you cannot efficiently manage your limited resources, and meet unexpected business expenses.

The good news is that you can easily create a budget in QuickBooks®. With just a few clicks of a button, you can quickly create a budget for your business. In this article, you will learn about how to setup a budget in QuickBooks Online and Desktop versions.

How to Create a Budget in QuickBooks Online

The first step to take when creating a budget is to set the first month of the company’s fiscal year. To do this, you must perform the following simple steps.

Step 1: Select the Gear icon on the upper right section of the screen, and click on the Company Settings.

Step 2: Next you must click on the Advanced in the Settings window (see figure below).

alt="QBO Settings"

Step 3:   Now, you must set the fiscal year by clicking on the pencil button in the Accounting section to set the First month of fiscal year.

Step 4: Once you have set the fiscal year, you must click Done.

After you set the fiscal year, your next task is to prepare a budget. You can easily create a budget using an on-screen wizard. To set up a budget, you should perform the steps that are outlined below.

Step 1: Again, select the Gear icon on the upper right screen, and click on Budgeting (see figure below).

alt="Budget WIzard in QBO"

Step 2: Create a Budget wizard will start that will provide instructions on creating a budget. Once you’ve read the instructions, you must click next.

Note: You must add QBO website as an exception to blocked pop-ups in your browser. This is important otherwise the budgeting wizard will not start.

Step 3:  In the next page of the on-screen wizard, you need to select an option to establish budget amounts. You can select option to start with actual amounts from last fiscal year, create a budget from scratch, or copy from an existing budget. Click Next when you have specified your preferences.

Budget Setting

Step 4: In the third page of the on-screen wizard, you will have to specify whether you would like to subdivide the budget. By subdividing a budget, you will be able to track separate accounts for each of your customers. Click, Next when you have made a selection.

Step 5: In the last page of the step-by-step wizard you must select a fiscal year, and then name the budget. Once this is done, you click Finish, and you are presented with a screen that is similar to the one below.

alt="Budget Input Screen"

Step 6: At the bottom of the screen, you will find boxes. You must click on any cell, and then enter the required values. Select Enter by list box and choose Monthly, Quarterly or Yearly to enter respective amounts. You can also enter an amount and click on Copy Across to have the amount copied in every boxes. Clicking on the Save button will transfer the amount in the boxes to the respective income and expense item listed at the top of the page.

You should repeat step 6 for each of the item in the budget line. That said, you don’t need to enter a budget amount for every income and expenses listed on the screen.

Step 7: Once you have completed entering the values, you must click on Finished.

Congratulations! You have just set up a budget in QuickBooks Online.

How to Create a Budget in QuickBooks 2016

The process of setting up a budget in desktop version of QuickBooks is somewhat different than creating a budget in QuickBooks Online. You need to follow the steps below to create a budget in QuickBooks 2016.

Step 1: Select Company, Planning & Budgeting, and then Set Up Budgets.

Step 2: Next, you must select Create New Budget. The following window will show on the screen.

alt="Create New Budget Screen"

Step 3: You must specify a year, and choose the type of budget that you want created in QuickBooks. Selecting the Profit and Loss option will reflect all activity for the year, while the Balance Sheet option will reflect ending balances. The former creates a budget of income and expense amount, while the latter creates a budget of assets, liability, and equity. Normally, you would create a budgeted income and expense account. Click Next, once you are done.

Step 4: In the new screen, you can specify additional criteria and instructions. You can budget using Class or Customer: Job information. Again, click Next, once you are done.

Step 5: Now, you should select an option whether you want to create a budget from scratch or using values from a previous year’s budget. After you have made a selection, you should click Finish.

alt="QBO Budget Grid"

Step 6: You will see a screen similar to the one shown in the figure above. Here you can specify the amount that you want to budget for a particular item. Enter the monthly budgeted amount in each of the cells. To copy a value across the row, you should click on Copy Across Button. Also, you can click on Adjust Row button to adjust values by a specific percentage, for instance increasing the amount by 25%.

Note: If you selected to create a budget using last year’s value, the screen will be already filled with values.

Step 7: After you have entered all the values, you must click Save, and then OK at the bottom right corner of the screen.

Well done! You have just created a budget in QuickBooks 2016.

In the end, creating a budget will allow you to better manage your finances. You can prioritize your expenses and ensure that important expenses of the company are being met. Just remember to set aside money for unexpected costs for expenses that occurs out of the blue.

alt="QuickBooks Online Subscription and Pricing"

What are the Benefits of QuickBooks Online?

QuickBooks  Online (QBO) is the cloud version of the popular accounting software by Intuit®. It is the perfect solution for anyone that wants the ease and flexibility of access while on the move. Over the past few years, Intuit has done a lot of tinkering to cloud accounting software. Today, the online edition of the popular accounting software comes with powerful features and functions. This has made it the most popular choice of small and medium sized business owners.

Using the cloud accounting software, you can benefit from dozens of features that will streamline the function of managing company financial data. Here, we put the online edition of the accounting software under our magnifying glass to find out what it offers in value added benefits to companies.

QuickBooks Online Benefits: What’s in It for You?

QuickBooks® Online stands apart from its competitors when it comes to ease of use and time saving functionalities. The subscription based accounting software is available in different versions that you can select according to your company’s needs and requirements. These include Self Employed, Simple Start, Essentials and Plus that costs $10, $15, and $30 and $40 per user per month, respectively.

All the versions of the cloud accounting software provide basic accounting functionalities as well as advanced features such as:

  • Connecting online accounts and downloading transactions
  • Automatic upgrades and backups
  • High grade security
  • Reporting features
  • and Mobile access

Below are some of the value added benefits you gain by purchasing QuickBooks Online.

a. Access Anytime, Anywhere
The most important benefit that you gain from using QuickBooks Online is accessing the software from anywhere and anytime. There is no need to be confined to your desktop PC to know how your company is faring financially. You can easily access the software while on the move using an internet enabled device.

And you know what’s even better. You can access the software anytime even late in the night when your office is closed. This is beneficial for those late owls who find that they think better during the night. You can access the company data while you are on a vacation abroad to track your company’s finances, and give direction to the employees if necessary.

b. Managing Remote Employees
A great benefit of QuickBooks Online is that it allows you to better manage remote employees. If your company have workers that perform tasks at remote locations, you can use the software to keep track of their work time. When your workers use time-in compatible attendance software that syncs with QuickBooks, accounting data such as number of hours worked, late arrivals, holidays, etc. can automatically transferred from the online attendance software to QuickBooks Online. This eliminates the need to manually enter the data in QuickBooks. Thereby, you save precious time for your accounting personnel. The end result is increased productivity of the accounting personnel and reduced operational costs for the company.

c. Third Part Software Integration
Without hesitation, one of the most important benefits of QuickBooks Online is integration with third party apps. The online version can easily connect with other popular third part apps such as Spotify, SalesForce CRM, Square, Revel POS, and eCommerce payment software platform.

Integrating the accounting software with the third part apps will keep the accounts updated in real time. You will always have access to accurate and up-to-date accounting information. Moreover, it will ease the task of the accounting personnel in performing their tasks and reduce the chance of error in manually entering the data. As a result, they can prepare timely, error free, and quality accounting reports for you that will prove invaluable in charting the future course of the business.

d. User Friendly Interface
A great thing about QuickBooks Online is its easy-to-use interface. You can easily access important functions without having to navigate deep into the menus. Most of the accounting tasks can be performed by clicking just a few clicks of a button.

The left vertical pane consists of tabs that you can click to access Vendors, Customers, Employees, Reports, Transactions, Taxes, and Apps. A gear icon located towards the top portion of the screen gives you easy access to advanced accounting features. Overall, the user interface is simple and less cluttered as compared to the desktop version of the accounting software.

The reports can be filtered and customized in a way that you get exactly the information you require. Generally speaking, although the reporting feature is not as robust as the desktop version, most business owners are satisfied with the amount of information provided by the QBO reports.

e. Automatic Updates and Backup
With QuickBooks Online you don’t have to worry about updating the software or creating a backup of the company file. The company file is automatically backed up. Moreover, you also don’t need to upgrade the software every year. The accounting software automatically updates on the back-end. This allows you access to the most recent features and functionalities.

How Does QuickBooks Online Differ from Desktop Version?

Now that you know the benefits of the QBO, you might be wondering how the online version differs from the desktop version. The simple answer to this question is that if  you want flexibility to access the software from anywhere, you should opt for QuickBooks Online.

However, if you want powerful features like the following:

  • Average cost valuation of inventory
  • Batch invoicing
  • Multiple price levels
  • Batch time sheet entry
  • Modify and covert estimates to sale or purchase order
  • Advanced reporting features

You should buy one of Desktop version of the accounting software. Contact us for assistance in choosing the best software option for your business and to receive special discounts.

 

Source

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7 Great Apps for QuickBooks Online

quickbooks-online-app-onsQuickBooks Online offers an easy to use, robust, and accounting interface that works anytime, anywhere. At present, over 1 million businesses worldwide are benefiting from the online accounting software. The simple yet powerful interface of the accounting platform provides scalable solutions that fit the requirements of businesses of all types and sizes.

The online accounting software does an excellent job handling the basics – invoicing, budgeting, bank reconciliation, reports, and so on. Yet, the addition of the third-party add-ons really boosts its functionality and takes it to next level. These add-ons are available on the home screen of the QuickBooks Online or the Intuit App Marketplace.

Some of the add-ons are for free while others require you to pay a monthly subscription fee to avail their services. Here we present a list of 7 great QuickBooks Online apps that provide value added functionality for online accounting users.

1. TSheets Time Tracker
TSheets® Time Tracker is one of the best QuickBooks Online apps. The add-on easily integrates with the online accounting software and provides the ability to track employees’ time for payroll, job costing or invoicing.

Once installed in QuickBooks online, staff can clock in using their mobile devices. This is extremely useful for organizations that allow employees to work from their homes. The add-on tracks employee’s time and GPS location points for employee routing, accountability and more.

You can review employee times in TSheets and then sync to QuickBooks Online after approval. You can then use the recorded data for job costing, payroll or invoicing. This greatly reduces the accounting time and cost incurred in keeping track of the remote employees.

2. Add-On for PayPal Integration
PayPal is another great QuickBooks Online app. The add-on syncs the company’s PayPal related sales transactions with the online accounting software. You can use this add-on to keep your transactions organized and in one place.

The QuickBooks Online PayPal app easily synchronizes PayPal receipts, fees, tax, and discounts. Once installed, data is synced and categorized automatically without any user intervention. The online app can also generate sales receipts for transactions. It can also adjust inventory for products that have inventory tracking enabled.

What’s more, the online app gives you complete control of how PayPal data shows up in QuickBooks Online. Customize settings to make sure that the data is recorded and classified properly. In addition, you can decide which information is entered or discarded from the QuickBooks accounting software.

3. Sync Business with American Express Open
This useful add-on allows you to sync your American Express® online account with QuickBooks Online. The add-on securely connects your business card with the online accounting software. You can also use the add-on to import your customized QuickBooks categories into the American Express online account.

You can label or categorize your transactions directly from the online statement. When the transactions are transferred to your QuickBooks Online company file, you do not need to categorize the transactions again.

When this add-on is combined with Receipt Match Mobile App, you can snap pictures of the receipts and label them on the go. You can download the Receipt Match® app for free from both the Android and iOS app stores.

4. Method CRM
Method CRM® is a powerful customer relationship management (CRM) tool. This online tool makes it easy to track leads and manage them once they convert into customers. The Method CRM add-on integrates seamlessly with QuickBooks Online. You can sync invoices, discounts and other customer transactions into the online accounting software.

The customer relationship add-on allows you to track potential leads. You can use the app to manage your customer service team, assign tasks, and send follow-up emails to the potential customers. Your customers, online vendors, customer representative teams, and more are all accessible anytime, anywhere.

You can also integrate the customer service app with your website. The customers can request information about your product and services directly from the website. Sales reps can then follow up with the leads and try to convert them into customers. Once the leads are converted into customers, the status is updated on the website.

5. Shopify Cloud Cart Connector
Shopify Cloud Connector is another great app for QuickBooks Online. The add-on allows seamless connectivity between the online accounting software and Shopify, a popular online e-store platform. Once installed, the add-on automatically syncs inventory and orders with QuickBooks Online.

You can use the cloud-cart connector to create credit memos, refund receipts, and partial refunds. The add-on can match customers’ orders by company, name, or assign a single customer to all orders. The online cart can map the items either manually or using an SKU. The fields are broken down by functions. This makes it easy for you to make changes as necessary.

6. LivePlan Dashboard and Forecasting
LivePlan Dashboard and Forecasting provides a powerful user interface to create budgets, track performance, and forecast sales. You can use the dashboard to get deeper insights into your company. These insights are used to understand the performance of the company. Thus, making it easier for you to chart its future direction. LivePlan add-on gives you powerful tools to compare the actual performance of the company against the budget. You view how your company is doing compared to last month, last year and more.

7. FG Receivables Manager
Finally, FG Receivables Manager is another great online add-on for QuickBooks Online. The online add-on allows you to save time on monitoring your account receivables. You can use the add-on to reduce bad debt invoices by more than 70%. A definite must have tool for companies to significantly improve their bottom-line.

To sum up, QuickBooks Online third party add-ons greatly extend the functionality of this powerful accounting software. You can use the add-ons to sync accounting information, monitor your customers, gain deeper insights, track employee time and much more!

QBO 101: Setup Roles and Users in QuickBooks Online

QuickBooks Online offers flexibility and convenience in performing accounting functions. The accounting software is ideally suited to the needs of medium and small businesses. What’s best about the accounting software is that you can scale it up (or down) based on the required needs of your business.

The simple version of QuickBooks Online subscriptions includes access to a total of three users, (one user and 2 accountants) who can access the cloud software simultaneously.

QuickBooks Online Essential subscriptions include access to five concurrent users (three users and two accountants). QuickBooks Online Plus subscription allow access to seven concurrent users (five users and two accountants).

With QuickBooks Online Plus subscription, you can add up to a maximum of twenty-five users at an additional cost.

So, the question is how do you add a user or accountant to QuickBooks Online?

You can add users and assign roles from the Administrator panel. In order to add a user, you must perform the following simple steps.

  1.  Click on the Gear Icon on the upper right corner of the screen.
  2.  Select Manage Users from the sub-menu under Your Company.
  3.  Click on the New button at the bottom right corner of the screen, select the type of user you want to add, and then click Next.
  4.  Now, you must specify the access right that you want to give to the user’s, and again click on Next.
  5.  In the new screen that opens, you can make adjustments to the user’s access like limiting their ability to make changes to customer accounts, print checks, etc. You can even provide view only access when going to the next screen.
  6.  Lastly, you must enter the email address of the user that you want to give access to QuickBooks Online, click on the Next button, and then Finish.

Congratulations! Now, you have successfully setup a new user in QuickBooks Online. An email will be sent to the new user who must select Click Here. The user will have to create a user ID and password to gain access to the company file.

Now that you know how to add a user in QuickBooks, let’s add and assign your Accountant access to your QuickBooks Online account. The process is really simple and somewhat similar to adding users.

First, click on the Gear Icon on the upper right corner of the screen.

Next, Select Manage Users from the submenu.

Now, under the accounting firms at the bottom of the screen, you must click on Invite Accountant.

Finally, you must enter the email address of the Accountant, click Next, and then Finish.

Once you perform the above steps, an email is sent to the Accountant containing a link to access the software.

Owine additional type of user that you can add in QuickBooks Online Plus version is a Time Tracking User. These users are not charged against the number of users that you are allowed. To add this type of user, follow the same steps described above. Select Time Tracking under the Manage Users Tab.

This type of user is helpful if you charge your clients or customers for time worked. You can use Time Tracking to record people’s time within QuickBooks Online. That way, you can easily pull billable hours into your customer invoices.

https://www.projectorpsa.com/intuit.html

Projector – One of the Best Hosted Solutions Designed for Professional Services Firms

A projector is an online software solution that can be integrated with QuickBooks Online and Desktop to offer enhanced accounting functionality. The software is designed for consulting firms and automates their accounting process. Projector is not a single software, but a total integrated solution for optimizing accounting tasks and activities.

Users can export Account Payable, Account Receivable, and General Ledger transactions to QuickBooks. Moreover, the software also allows import and export of the customer and employee data in QuickBooks, and synchronize the data on a continuous basis. Lastly, the software offers analytical reports and tools that can help when reconciling and auditing accounts during the closing process of an organization.

Here we will explore the powerful functions and features of Projector in enhancing and optimizing the accounting functions of companies.

Projector – An Overview
Projector Overview

The secret of running any professional services firm successfully is to efficiently manage three important resources – human, capital, and time. These three resources are the critical ingredients that when managed properly can allow the business to reach the height of success. Inefficient resource management, on the other hand, leads to increased cost of operations that will make it difficult for the firm to survive over the long term. By integrating QuickBooks with Projector software, you can efficiently manage the company resources that will ultimately lead to an improved bottom-line.

Projector online accounting solution offers tools to better manage the resources. The software contains three key functionalities: Resource Scheduling, Project Accounting, and Enhanced Project Management. The modules are customized for the firms that offer consultancy services. Some of the modules of the online service include:

  • Time and expense entry
  • Creating invoices
  • Billing review
  • Resource scheduling
  • Budgeting and tracking
  • Task planning and tracking
  • People and project management
  • Detailed analytical reporting

The online add-on also contains multi-currency and multi-company sub-ledger that seamlessly connects with QuickBooks accounting software. Whether you want to accurately invoice your client, gain greater control over resources, or manage different projects, Projector online solution offers it all.

Detailed Overview of Projector
Projector software is designed especially for professional service firms. The professional suite comes with powerful features and functionalities that will allow you to control your costs and improve your bottom-line. The efficient intuitive interface of the online enterprise class solution makes it easier for you to reap benefits and streamline your accounting operations. The software is delivered on a cloud-based Software as a Service (SaaS) platform that is ideal for both small startup businesses to big multinational companies.Let’s take a look at each module in detail.

Project Accounting Module
The Projector accounting module allows you to keep track of the time and expenses you have invested in various projects. The module makes it easier to manage the invoicing process. Using the module, you can bill clients with the correct amount in a timely manner. The online software helps ensure that every time and cost invested in the project is billed accurately and sent to the client. The software can act as a sub-ledger of the project in your general ledger, and automatically sync the information with QuickBooks.

Resource Scheduling module
The resource scheduling module allows you to efficiently manage the human and capital resources your company. Using the software you can easily assign staff to projects. The software allows project managers to make the right decisions and ensure that the tasks and activities are completed on time while utilizing minimum resources. Project managers can also describe the type of resources needed based on certifications, skill sets, and physical locations. The software gives greater control to project managers in allocating resources to different projects. Using the resource scheduling software will help with effective utilization of resources and can have a positive impact on operational costs, revenues and overall company profitability.

Project Management Module
Project management module offers more power and control in planning, tracking, and implementing tasks and activities of a project. The module is a simpler and low-cost alternative to Microsoft Project that allows project managers to check the project health in complete detail. Moreover, the software also allows better collaboration and coordination among the team members that goes a long way in ensuring that the project is completed according to exact specification of the client.

Apart from modules, Projector also contains various foundational layers that greatly help in optimizing accounting functions and tasks. The layers allow accounting personnel to have greater control and visibility of the expenses that determine the health of the business.

1. Projector Visibility Layer – This is a powerful feature that allows you to customize the dashboard. You can modify the dashboard to view the information that is essential for making the right business decisions. Moreover, you can use the powerful analytical reporting engine to create reports that can help you perform ad-hoc analysis of accounting data. When combined with the software’s operational dashboard and email alerts, you will have accurate and updated information about the current position of your business.

2. The Control Layer – The control layer allows you to manage user permissions and workflows. It gives you greater control over what information each individual is allowed to access and when. You can conduct full audit trails to see what the employees did on a particular day. With the control layer, you can setup the software in different ways to manage different parts of the project and organization.

3. The Integration Layer – This layer allows you to integrate Projector with other important systems used by the company. Apart from QuickBooks, you can integrate the online software suite with Salesforce.com (a powerful customer relation management tool) and Microsoft Project (Project management software). The fully integrated system will work wonders in improving operational efficiencies and streamlining operations.

Final Remarks!
Overall, Projector is a fine online accounting solution that is specifically tailored for service firms. You can use the software to better manage and utilize your resources, which can lead to an improved bottom line.

Intuit Partners with FundBox to Streamline Invoice Financing Function

Intuit® announced partnership with FundBox® earlier this month to tap into the powerful features of the invoice financing software. Intuit’s QuickBooks is one the most popular accounting software programs available, especially among small business owners. The company’s collaboration with the invoice financing software will allow it to further extend services to its customer by capturing customers that use FundBox for invoice financing and also provide financing options to QuickBooks customers.

QuickBooks online users can now link their accounts with the FundBox. This will offer greater convenience to the users in performing accounting function and tasks. As a result of the partnership between the two companies, small business owners that depend on QuickBooks accounting software will be able to get quick access their capital or funds in FundBox from the QuickBooks interface.

Users won’t have to leave QuickBooks to get access to the working capital. This will make it easier for small business owners to gain access to the capital to finance short term needs of the business.

FundBox: How it Works?
FundBox is an invoice financing software that helps small business owners to obtain cash advance on outstanding invoices. Also known as account receivable financing, invoice financing is similar to invoice factoring that large companies use to obtain cash by selling their customer invoices at a discount to a factoring companies.

The financing option is useful for B2B companies that need instant cash to meet short term financing need. Invoice financing allows companies to address the issue of slow paying customers that negatively affects their cash flow position. The option is ideal for businesses that want quick cash without having to apply for loans. The financing option is also helpful for small business companies that do not qualify or don’t have the time to go through the lengthy process associated with traditional loans.

FundBox is a type of invoice factoring company that offers online funding ranging from $500 to$25,000 to B2B companies i.e. companies that sell products and services to other companies. The funding is usually provided to the companies about three days after approval of the application.

The online software is the most transparent and easiest solution for small businesses to fulfil gaps in cash flow. The process of obtaining fund through FundBox is as simple as 1-2-3.

Step 1- Create a Free Online Account
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The first step is to sign in for the service. This process takes about one minute. You need to enter your email, select a password, and choose your online bookkeeping software. The online software will automatically sync outstanding invoice information that you can access in your FundBox account.

Step 2 – Select Outstanding Invoices
Next, you have to select the outstanding invoices that you want to sell for obtaining the cash amount. Instead of waiting around 30 to 90 days or even more for the invoices to clear, you can easily obtain invoice cash by selling them to the FundBox for a discount.

Step 3 – Obtain Money in the bank Account
FundBox automatically transfers the cash amount to your account. As mentioned previously, the cash amount is usually transferred to the account three days after approval of the application. The instant cash may have greater value to you because it can be invested elsewhere to earn additional income.

FundBox Fees and Other Charges
You have to pay a specific clearing fee to the company. When you select the outstanding invoice, you will be shown the exact fees (in US dollars) that you will have to pay the company.

The fee is based on your business’s financial health and also on the amount of outstanding invoices that you want to clear. For instance, the fee for a $1,000 invoice with a due date of three months will be in the range of $52 to $72. The clearing fee is set automatically based on your business health and the specific invoice you want to clear.

The fee is paltry as compared to the amount you can earn on the cash that is obtained earlier. This is due to the time value of money, which basically means that the money that you invest right now will earn greater profits as compared to investing in the future.

Is FundBox Safe and Secure?
FundBox is completely safe and secure. In fact, FundBox claims that safety is the highest priority for the company. In fact the invoice financing company has incorporated state of the art bank level security in its systems that conform to strict safety requirements specified for online companies.

The funds arrive in the accounts safely without much risk of online theft. The highest level safety standards implemented by the company ensure that there is no incidence of hacking or online attacks. In order to assure the fastest delivery of funds into the accounts of the customers, the company sends the amounts before 1:00pm PST on weekdays.

Final Remarks!
Small business QuickBooks users will benefit greatly from the integration of QuickBooks with FundBox. You can ramp up your cash flow positions with the obtained funds. Moreover, the funds can also be used to earn additional income that can boost cash position of the company.

As a QuickBooks user, you will be notified about the option to link your accounts with FundBox on the Sales Transaction page. By linking your accounts with the online invoice financing software, the application process may be cut down from days to even minutes.

Eligible individuals can obtain short term financing against outstanding invoice for up to 12 weeks. FundBox may charge a higher weekly fee as compared to traditional business invoicing companies, but the ease and convenience of obtaining the fund more than makes up for small business owners by easing their short term financial needs.

With a service like FundBox, you will no longer have to worry about cash flow problems. You can easily obtain the required cash to settle your outstanding debts or invest in lucrative investment avenues.  The QuickBooks partnership with FundBox will make it even easier for B2B small business owners to obtain funds by selling outstanding invoices.

QuickBooks Online – Aligned With Your Current Business Needs

The Internet has revolutionized and simplified business chores that previously consumed significant amounts of time, labor and effort. It is now possible to conduct trade online with unbelievable ease and convenience. Most business enterprises have turned towards this medium to capture audiences and market share for a simple reason – this is where the consumers are!

This revolution has come about with another reality – if this is where customers are, this is precisely where businesses should be. This shift has changed the importance and necessity of physical workspace for most businesses. In fact, many organizations have turned remote office setups to save valuable business resources and use them profitably within the business.

Most companies have a mobile labor force working from different parts of the city, if not, the world to meet strategic business objectives. This, however, has given rise to challenges of a unique nature.

The biggest challenges is how to get the workforce on board, on the same page at the same time. Information sharing is proving tricky while also trying to take into account the company’s confidentiality policies. This is where QuickBooks® has emerged as the viable solution to the problem of managing your accounting function securely and confidentially.

QuickBooks – Going Online
QuickBooks is an accounting software that serves more complex purposes than simply bookkeeping. It not only helps you keep track of all expenses and income for the business, but it also helps managers plan their business activities according to the amount of resources available to them. This ensures overspending can be avoided, which, in turn, protects the company against loss and potential bankruptcy!

What is even more important, QuickBooks has gone online. This means you can gain access to updated financial information about the company from anywhere at any time!

All information fed into the software is stored on a virtual cloud computing server. So, everyone who has access to the software portal can access the same information at the same time, which is up-to-date. This encourages greater collaboration and lessens the probability of erroneous and “expensive” financial decisions. In essence, it safeguards the future of your business entity.

Authority can be parsed out based on responsibility level and how much access each person needs. All participating parties have been given the authority to make changes, and they can let their peers know about the updated status. These changes need not be made from a computer, but can also be made from a smartphone or tablet. These uses call for better and efficient use of business resources. This also helps keep every expense recorded without relying on delayed entries.

QuickBooks has a built-in feature that automatically highlights the tasks that require your immediate attention. Any receivables or payables that are already due or are nearing their due date will be displayed on the dashboard. This ensures the company’s cash flow is in order with greater efficiency and accuracy.

Moreover, QuickBooks is adequately programmed to make and receive payments; there is even a single click (or touch) feature. This makes it easier to manage accounts and meet deadlines. This protects the company’s credit scores and builds credibility with vendors over the long run.

What more could you possibly ask for? QuickBooks is the best accounting software that is precisely aligned with your current business needs in mind. You can manage your resources easily and effectively with an eye toward greater gains! Yahoo!

 

How to Track and Manage Small Business Expenses

With cutting edge competition in all industries, it has become vital for businesses to track and manage their expenses in order to pinpoint any unnecessary expenditure and to cut costs. Proper management also helps a lot when the time comes to pay taxes. As an entrepreneur, you can maintain a number of practices to keep your business’s finances sound.

The following guidelines will help you to track and manage all the expenses of your business. You should try to aim for implementing as many of these tips as you can.

Get Automated
There are several powerful accounting software tools out there that can help you automate the process of financial bookkeeping. QuickBooks, for example, is renowned for simplifying the process of tracking and managing small business expenses. It is best to use the same version as your accountant because this will make it easy to import information to your tax return when the need arises.

Get Ready for Tax Time
Make sure your records are as accurate as possible, and don’t forget to record any expenses that you are planning to deduct on your taxes. These may include expenses involving travel, entertainment, use of business vehicles, office equipment as well as charitable contributions.

Don’t Mix Personal and Business Funds
Try not to use your personal cash, credit cards or checking accounts for any business expenses. Even though you can later reimburse yourself for any such expenses, these generally add unnecessary complexity to your financial records and may even expose your business to scrutiny by IRS.

Keep an Eye on Petty Cash
Petty cash expenditures, if not tracked properly, can create lots of problems for you. Use your accounting software to create a cash account so that you can adequately manage your expenses and cash flow in and out of the account. It is best to minimize the use of petty cash until absolutely necessary.

Save All Receipts
In order to document tax-deductible expenses, you will need all your receipts if you are audited. It’s a good idea to jot down why you carried out the transaction on the receipt for future reference. Consider scanning all your receipts to file them digitally; doing this will not only save on a lot of physical storage, it will also cut down on the hassle of managing all the extra paperwork.

Your accounting software may allow you to upload your receipts with the expense. QuickBooks Online, FreshBooks, Xero and Wave are software programs that allow receipt management.

Be Timely
If you don’t put your expenses into your accounting software on a timely basis, you will end up with a large pile of receipts that will only continue to grow. By recording the expenses in a timely manner, you will be keeping your financial records up-to-date.

Use Technology
Technology has made things extremely easy. For instance, you can use the QuickBooks mobile app to keep track of your expenses on the go. You can easily integrate and synchronize data between QuickBooks on your PC and on your mobile.

Monitor Results Frequently
Using QuickBooks, you can easily create weekly or monthly reports to review how your expenses are coming along and to see how well you have been managing your business cash flow. Make sure you keep an eye on your budget by reviewing financial reports on a regular basis.

These simple tips will help you get started with good bookkeeping habits, which in turn, results in maximizing your expense deductions and minimizing confusion tax time.

Note: Also check out our article on Keep a Leash on Business Expenses.

Getting Started with QuickBooks Online

Small business owners want accounting solutions that are secure and scalable. There are numerous accounting solutions out there, but most of them are far too complex and have a steep-learning curve. QuickBooks Online (QBO) is a favorite of many business owners due to its ease of use and flexibility, as well as the features that makes sharing of data a breeze. This software comes with a mixture of financial tools that simplify the process of account tracking, invoicing, and reconciling bank and credit card statements among many other features.

Here are 8 essential steps that you need to take when getting started with QuickBooks:

1. Find an Accountant
Before you do anything else, you need to talk with an accounting professional (if your business does not have one) about migrating your financial data to QuickBooks Online. You need to confirm the specifics of your business that is needed by QuickBooks, such as the structure of your business, the conventions of tracking expenses and any obligations pertaining to local or state regulators just to name a few.

2. Evaluate QuickBooks Basics
You may already be comfortable with numbers, but it is best that you get acquainted with QuickBooks software. You can find some excellent tutorials on Intuit’s website, which will help you to understand how QuickBooks Online works.

To become a proficient user of the software, you need to know what the terminology that is being used. There is also a number of Quickbooks  ProAdvisors available to train you how to use the software effectively.

3. Set Up a Secure Environment
Whenever your hard-earned money is at stake, security becomes critical. Also, due to the fact that all of the financial information of your business would be in one single place, you must proceed to the ‘Your Account’ section to ‘Change Password’ before you begin entering sensitive information. It is actually good idea to get in the routine of changing your passwords on a monthly or quarterly basis.

4. Input Your Business Vitals

Once you have familiarized yourself with the basics of QuickBooks, and you have set your passwords, you should enter your business’s financial details based on the conversation with your accountant. Among the most important of items are: Business Structure, Reporting Forms, Tax ID Number and Reporting Calendar.

5. Input the Customer Information
The ‘Customer’ tab will let you enter all the details of your clients, including their name, company, contact details and most important of all, the Preferred Payment Method.
You may want to generate a test invoice for them, so they can confirm all the details to be correct.

6. Enter Your Vendor and Employee Information
Under the ‘Vendor’ and ‘Employees’ tabs, you should enter the relevant information regarding your vendor and employees. You can confirm each entry by generating a report using the Report button on the right-hand side of the screen.

7. Start Tracking the Flow of Money
Tracking the flow of money is arguably among the most important of tasks at hand for the business owner. You can access the ‘Banking’ tab to focus on the reporting options and to see what costs your business incurs. You can also connect to other relevant financial accounts like bank accounts and credit cards.

8. Get Familiar with Reports
Accessing reports is quite simple in QuickBooks Online. Click on the Reports tab, and click on Report list. A list of the reports that are available to you will be displayed. Depending on the version of QBO that you are using, you will have access to over 70+ reports including Profit and Loss, Balance Sheet and Statement of Cash Flows. These can all be run for specific date ranges. You will also find Accounts Receivables and Payables reports, and Sales reporting.

QuickBooks Online is a robust software that is available across multiple platforms including desktops, iPad and Android tablets, and smartphones. The 8 items listed barely scratch the surface of benefits of using QBO. Give us a call to setup a 30-day free trial.